That doesn't work for what I'm describing.
Here is a piece of sample code...  The text has to stay in the 3d camera environment, just rotate. 
Code:import peasy.*;
PeasyCam cam;
float[] rotations = new float[3];
void setup() {
  size(300,300,P3D);
  cam = new PeasyCam(this, 100);
  cam.setMinimumDistance(50);
  cam.setMaximumDistance(500);
}
void draw() {
  background(0);
  rotations = cam.getRotations();
   
  fill(255,255,255);
  box(2);  //center
   
  pushMatrix();
  translate(0,30,0);
  fill(255,0,0);
  box(10);
  popMatrix();
  
  pushMatrix();
  translate(0,-30,0);
  fill(0,255,0);
  box(10);
  popMatrix();
 
  
  pushMatrix();
  translate(0,30,0);
  rotateX(rotations[0]);
  rotateY(rotations[1]);
  rotateZ(rotations[2]);
  fill(255,255,255);
  textAlign(CENTER);
  text("My Red Box",0,20,0);
  popMatrix();
  
  pushMatrix();
  translate(0,-30,0);
  rotateX(rotations[0]);
  rotateY(rotations[1]);
  rotateZ(rotations[2]);
  fill(255,255,255);
  textAlign(CENTER);
  text("My Green Box",0,20,0);
  popMatrix();
}